Avoiding taxes/money laundry in Europe - GoFuckYourself.com

McSpike · 06-18-2002, 03:07 AM

Hi,

A friend of mine heard about this and it's probably old news, but I'd still like to know has any of you ever done this or you heard about this too.

Remember I am talking about example for Europeans. Anyway here it goes:

You open a company in the US - a company that only exists on paper that is. I heard it costs $1800 to open and then $700 every year.

Then you open a personal bank account in some foreign country. Say you live in Germany you go to Austira and open a personal bank account there.

Now, this US company of yours sends your local company an invoice for "some service" they did for you which matches the money you have in your local company. Great. Now you wire your money to that US company and show it as an expense (you have an invoice for that as a proof). Now US company wires the received "payment" to that personal account in Austria and shows it as expense AGAIN

Now all you do is go to Austria personaly, withdraw the money and it's all yours. You pay no taxes to Austrians because you are a German citizen.

You avoid taxes and get the money directly in your pocket.

IS THAT POSSIBLE?? Anyone ever done stuff like that?

-- McSpike --

ServerGenius · 06-18-2002, 03:12 AM

talk to your accountant/lawyer if you can't afford that then you
shouldn't be thinking of avoiding taxes

DynaMite

DarkJedi · 06-18-2002, 03:13 AM

talk to your tax man about it

tha_timinator · 06-18-2002, 03:58 AM

sounds possible... but how are you ever gonna explain it to the taxdepartment? sooner or later they'll notice you spend _all_ your profit on the same vague american company, which turns out to be yours and seems to have no further activity besides receiving money from A and sending it to B. as soon as they know this they know what's going on and then they'll do anything to nail you... i'd prefer the fair way... the fact whether you do or do not pay taxes won't be the key factor towards success or no success anyways... if you run a good and healthy business you should be able to make it a success anyways, regardless the taxes.

bhutocracy · 06-18-2002, 04:32 AM

If you're going to avoid tax do it the professional way... swap your tax bill for your account's one

JimmyReject · 06-18-2002, 04:52 AM

New concept - PAY WHAT YOU OWE!

McSpike · 06-18-2002, 06:27 AM

This is not just a way of avoiding taxes, but also the way to get the money out of your company in your pocket.

In reality not all money would get wired to that US company, but a portion. That US company can be owed by a 3rd person that's involved in this. No need to be so obvious and have it on your name.

DynaSpain,
You think anyone would go through with this for a change? I could care less, if it wasn't a lot of money involved.

-- McSpike --

Rocco Strange · 06-18-2002, 06:33 AM

Webhosting is the perfect way to launder money...

You can create something for nothing.

Imagine if you ran a hosting company and charged an elite premium to host a website. Lets say $5,000 to design a site, and $289 per month to host it. Create some site using frontpage, and create an invoice for your "customer". Now you have a legit way to take cash, and be able to deposit it into your business account with a legit reason.

Host several thousand websites like this, and you can launder millions of dollars of drug money, and make it legit.

Finding tax loopholes to pay less tax is a different thing. At least now you can get rid of the garbage bags of cash in the apt!

You aksed about laundering money, but I suspect you really are just worried about cheating income tax.

Rocco

Lensman · 06-18-2002, 06:38 AM

Won't Austria tax you on the money? I guess if you pick a country with no taxes it would work.

It wouldn't work for US citizens, because you can only carry $9999 in cash back in and it's not worth the hassle.

If anyone can find me a LEGAL US tax strategy, I'd be all ears. I stay away from all the illegal ones, I'd rather pay taxes.

Gemini · 06-18-2002, 06:43 AM

This is not just a way of avoiding taxes
________________________________

No kidding! It's also a way to be 'kept' for a few years in a 6x8' cell with a horny convict... Oops, you'd be one too!

Can we say drop to your knees or bend over bub?!

bhutocracy · 06-18-2002, 06:49 AM

seriously.. if you're going to bother doing it, do it properly and legally. unfortunately that means spending money..
maybe you'd be better off looking into other ways to avoid tax such as family trusts and the like rather than what it looks like you're going to try.. the old credit card linked to an offshore bank account is always going to fuck you in the ass if you ever get audited.

TarPy · 06-18-2002, 06:54 AM

Best way to avoid taxes is vigilanty accounting...

You had dinner, it was a business meeting, you were negotiating with a possible associate. (aka trying to buy your way into her pants with dinner). Then you make several important calls that run a couple of bucks. (your mom, your gf, your dealer). That new playstation was purchased as a givaway prize. (no one ever won it). Always have an accountant file your taxes, it decreases liability for "mistakes," trust me no good accountant files their own taxes. Your home computer, internet connection, and office are all leased from yourself.

Yadda Yadda...

Best way to hide money is totally legal by purchasing Real Estate and defferring the taxes indefinately using a 1031 tax differred exchange.

TarPy

boldy · 06-18-2002, 06:57 AM

Taxes ?!

bhutocracy · 06-18-2002, 07:02 AM

Quote:

Originally posted by DynaSpain
talk to your accountant/lawyer if you can't afford that then you
shouldn't be thinking of avoiding taxes

DynaMite

this is so true.

yys · 06-18-2002, 07:27 AM

Why would you want to attempt too wash money through a U.S. corp? Your looking to get royally fucked by doing this. Why not just have all your earnings paid into an offshore company that you would indirectly own through another offshore company. Pay yourself a modest income as an employee/contractor of the first company so as not to attract the attention of the taxman and then payout the rest of your funds from the 1st company to the 2nd offshore company. You'll have to be careful though because if the taxman finds out that your living beyond your means they will turn your life into a living hell well they try to track where the money is coming from. After you've built up a nice nest egg in the 2nd company just move out of your country for a few years and then move back and your money is washed and legit.

Again, avoid involving the U.S. in this scheme. Aswell, the above mentioned structure is a very simple one; too really hide the money you would have to have a much larger network of offshore companies to run the money through.

Milton · 06-18-2002, 07:31 AM

Hey if you wants a offshore account with "creditcard" online banking .. Amex gold card or Visa gold card availbe.. fast set up
contact
4847664

Also have total annonymouse creditcard that means no legitmation needs to get approved or set up the account.
only a "real" post address post box is fine..

hahmike · 06-18-2002, 07:33 AM

mcspike,

you should call my guy tony montana down in CA.

:D

Theo · 06-18-2002, 07:52 AM

Quote:

Originally posted by Milton
Hey if you wants a offshore account with "creditcard" online banking .. Amex gold card or Visa gold card availbe.. fast set up
contact
4847664

Also have total annonymouse creditcard that means no legitmation needs to get approved or set up the account.
only a "real" post address post box is fine..

Milton, what's the min bank deposit there? 5k or 10k?

jimmyf · 06-18-2002, 07:56 AM

Quote:

Originally posted by Lensman
Won't Austria tax you on the money? I guess if you pick a country with no taxes it would work.

It wouldn't work for US citizens, because you can only carry $9999 in cash back in and it's not worth the hassle.

If anyone can find me a LEGAL US tax strategy, I'd be all ears. I stay away from all the illegal ones, I'd rather pay taxes.

I know someone you can talk to...
He lives in Rocklin.....
He can tell what's legal and not.
If you want get ahold of me and I'll give you his phone number.

Naughty · 06-18-2002, 08:00 AM

Quote:

Originally posted by Milton
Hey if you wants a offshore account with "creditcard" online banking .. Amex gold card or Visa gold card availbe.. fast set up
contact
4847664

Also have total annonymouse creditcard that means no legitmation needs to get approved or set up the account.
only a "real" post address post box is fine..

Sounds fishy

And good to know

E-van · 06-18-2002, 08:12 AM

I have a good accountant, I let him handle the hassle and advice me, so far, it has worked like a charm, and it's 100% legal too

FATPad · 06-18-2002, 08:15 AM

This may not be the best time in world history to try and launder money from country to country. Lots of people on the lookout for suspicious money movements that they think are related to terrorism. Tons of scrutiny on the movement of money lately.

foe · 06-18-2002, 09:17 AM

Quote:

Originally posted by JimmyReject
New concept - PAY WHAT YOU OWE!

your joking right

ServerGenius · 06-18-2002, 09:26 AM

Quote:

Originally posted by McSpike
This is not just a way of avoiding taxes, but also the way to get the money out of your company in your pocket.

In reality not all money would get wired to that US company, but a portion. That US company can be owed by a 3rd person that's involved in this. No need to be so obvious and have it on your name.

DynaSpain,
You think anyone would go through with this for a change? I could care less, if it wasn't a lot of money involved.

-- McSpike --

Sorry I missed this one McSpike...my advice was a wise one
If you think it's smart to discus on a public porn webmaster
board schemes on how to get around tax payment I think
you make a BIG mistake.

I can go on and debate your idea but I chose not. Take my free
advice....Don't discuss these issues in a public place and don't
try to scam. Talk with a good accountant and laywer and look
for one of the hundred LEGAL options to go with.

I mean no offence at all I'm just giving you my honest opinion.

DynaMite

tha_timinator · 06-18-2002, 10:58 AM

.. (testing)

Brujah · 06-26-2002, 03:15 AM

Avoiding Taxes ... stop making so much damn money. In theory, should work.

akississweet · 06-26-2002, 05:02 AM

taxes? whos that?

06-18-2002, 03:07 AM	#1
McSpike Confirmed User Join Date: May 2001 Posts: 1,042	Avoiding taxes/money laundry in Europe Hi, A friend of mine heard about this and it's probably old news, but I'd still like to know has any of you ever done this or you heard about this too. Remember I am talking about example for Europeans. Anyway here it goes: You open a company in the US - a company that only exists on paper that is. I heard it costs $1800 to open and then $700 every year. Then you open a personal bank account in some foreign country. Say you live in Germany you go to Austira and open a personal bank account there. Now, this US company of yours sends your local company an invoice for "some service" they did for you which matches the money you have in your local company. Great. Now you wire your money to that US company and show it as an expense (you have an invoice for that as a proof). Now US company wires the received "payment" to that personal account in Austria and shows it as expense AGAIN Now all you do is go to Austria personaly, withdraw the money and it's all yours. You pay no taxes to Austrians because you are a German citizen. You avoid taxes and get the money directly in your pocket. IS THAT POSSIBLE?? Anyone ever done stuff like that? -- McSpike --

06-18-2002, 03:12 AM	#2
ServerGenius Confirmed User Join Date: Feb 2002 Location: Amsterdam Posts: 9,377	talk to your accountant/lawyer if you can't afford that then you shouldn't be thinking of avoiding taxes DynaMite __________________ \| http://www.sinnerscash.com/ \| ICQ: 370820 \| Skype: SinnersCash \| AdultWhosWho \|

06-18-2002, 03:58 AM	#4
tha_timinator Confirmed User Join Date: Jan 2001 Location: Amsterdam, the Netherlands Posts: 590	sounds possible... but how are you ever gonna explain it to the taxdepartment? sooner or later they'll notice you spend _all_ your profit on the same vague american company, which turns out to be yours and seems to have no further activity besides receiving money from A and sending it to B. as soon as they know this they know what's going on and then they'll do anything to nail you... i'd prefer the fair way... the fact whether you do or do not pay taxes won't be the key factor towards success or no success anyways... if you run a good and healthy business you should be able to make it a success anyways, regardless the taxes. __________________ CELEBRITYSTART.COM

06-18-2002, 04:32 AM	#5
bhutocracy Not making A Comeback Industry Role: Join Date: Dec 2001 Posts: 10,218	If you're going to avoid tax do it the professional way... swap your tax bill for your account's one Last edited by bhutocracy; 06-18-2002 at 04:34 AM..

06-18-2002, 06:54 AM	#12
TarPy Confirmed User Industry Role: Join Date: Mar 2002 Posts: 758	Best way to avoid taxes is vigilanty accounting... You had dinner, it was a business meeting, you were negotiating with a possible associate. (aka trying to buy your way into her pants with dinner). Then you make several important calls that run a couple of bucks. (your mom, your gf, your dealer). That new playstation was purchased as a givaway prize. (no one ever won it). Always have an accountant file your taxes, it decreases liability for "mistakes," trust me no good accountant files their own taxes. Your home computer, internet connection, and office are all leased from yourself. Yadda Yadda... Best way to hide money is totally legal by purchasing Real Estate and defferring the taxes indefinately using a 1031 tax differred exchange. TarPy __________________ Not Working

06-18-2002, 03:13 AM	#3
DarkJedi No Refunds Issued. Industry Role: Join Date: Feb 2001 Location: GFY Posts: 28,300	talk to your tax man about it

06-18-2002, 04:52 AM	#6
JimmyReject Confirmed User Join Date: May 2002 Location: London, England Posts: 489	New concept - PAY WHAT YOU OWE!

06-18-2002, 06:27 AM	#7
McSpike Confirmed User Join Date: May 2001 Posts: 1,042	This is not just a way of avoiding taxes, but also the way to get the money out of your company in your pocket. In reality not all money would get wired to that US company, but a portion. That US company can be owed by a 3rd person that's involved in this. No need to be so obvious and have it on your name. DynaSpain, You think anyone would go through with this for a change? I could care less, if it wasn't a lot of money involved. -- McSpike --

06-18-2002, 06:33 AM	#8
Rocco Strange Confirmed User Join Date: May 2002 Posts: 105	Webhosting is the perfect way to launder money... You can create something for nothing. Imagine if you ran a hosting company and charged an elite premium to host a website. Lets say $5,000 to design a site, and $289 per month to host it. Create some site using frontpage, and create an invoice for your "customer". Now you have a legit way to take cash, and be able to deposit it into your business account with a legit reason. Host several thousand websites like this, and you can launder millions of dollars of drug money, and make it legit. Finding tax loopholes to pay less tax is a different thing. At least now you can get rid of the garbage bags of cash in the apt! You aksed about laundering money, but I suspect you really are just worried about cheating income tax. Rocco

06-18-2002, 06:38 AM	#9
Lensman GFY Chaperone Join Date: Jan 2001 Location: Adult.com Posts: 9,846	Won't Austria tax you on the money? I guess if you pick a country with no taxes it would work. It wouldn't work for US citizens, because you can only carry $9999 in cash back in and it's not worth the hassle. If anyone can find me a LEGAL US tax strategy, I'd be all ears. I stay away from all the illegal ones, I'd rather pay taxes.

06-18-2002, 06:43 AM	#10
Gemini Confirmed User Join Date: Jan 2001 Location: o-HI-o Posts: 7,183	This is not just a way of avoiding taxes ________________________________ No kidding! It's also a way to be 'kept' for a few years in a 6x8' cell with a horny convict... Oops, you'd be one too! Can we say drop to your knees or bend over bub?!

06-18-2002, 06:49 AM	#11
bhutocracy Not making A Comeback Industry Role: Join Date: Dec 2001 Posts: 10,218	seriously.. if you're going to bother doing it, do it properly and legally. unfortunately that means spending money.. maybe you'd be better off looking into other ways to avoid tax such as family trusts and the like rather than what it looks like you're going to try.. the old credit card linked to an offshore bank account is always going to fuck you in the ass if you ever get audited.

06-18-2002, 06:57 AM	#13
boldy Macdaddy coder Industry Role: Join Date: Feb 2002 Location: MacDaddy pimp coder Posts: 2,806	Taxes ?! __________________ MacDaddy Coder.

06-18-2002, 07:27 AM	#15
yys Confirmed User Join Date: Aug 2001 Posts: 1,922	Why would you want to attempt too wash money through a U.S. corp? Your looking to get royally fucked by doing this. Why not just have all your earnings paid into an offshore company that you would indirectly own through another offshore company. Pay yourself a modest income as an employee/contractor of the first company so as not to attract the attention of the taxman and then payout the rest of your funds from the 1st company to the 2nd offshore company. You'll have to be careful though because if the taxman finds out that your living beyond your means they will turn your life into a living hell well they try to track where the money is coming from. After you've built up a nice nest egg in the 2nd company just move out of your country for a few years and then move back and your money is washed and legit. Again, avoid involving the U.S. in this scheme. Aswell, the above mentioned structure is a very simple one; too really hide the money you would have to have a much larger network of offshore companies to run the money through.

06-18-2002, 07:31 AM	#16
Milton Confirmed User Join Date: Apr 2002 Location: Mauritius Posts: 1,118	Hey if you wants a offshore account with "creditcard" online banking .. Amex gold card or Visa gold card availbe.. fast set up contact 4847664 Also have total annonymouse creditcard that means no legitmation needs to get approved or set up the account. only a "real" post address post box is fine..

06-18-2002, 07:33 AM	#17
hahmike So Fucking Banned Join Date: May 2002 Posts: 2,488	mcspike, you should call my guy tony montana down in CA. :D

06-18-2002, 08:12 AM	#21
E-van Confirmed User Join Date: Jul 2001 Location: Mex Posts: 447	I have a good accountant, I let him handle the hassle and advice me, so far, it has worked like a charm, and it's 100% legal too __________________ Virtual accounts 39 cents per gig! Dedicated Servers starting at 31 cents per gig

06-18-2002, 08:15 AM	#22
FATPad Confirmed User Join Date: Oct 2001 Posts: 6,693	This may not be the best time in world history to try and launder money from country to country. Lots of people on the lookout for suspicious money movements that they think are related to terrorism. Tons of scrutiny on the movement of money lately. __________________ <a href="http://www.adultcontent.co.uk">Adult Content UK - Great British Content</a>

06-18-2002, 10:58 AM	#25
tha_timinator Confirmed User Join Date: Jan 2001 Location: Amsterdam, the Netherlands Posts: 590	.. (testing) __________________ CELEBRITYSTART.COM Last edited by tha_timinator; 06-18-2002 at 11:00 AM..

06-26-2002, 03:15 AM	#26
Brujah Beer Money Baron Industry Role: Join Date: Jan 2001 Location: brujah / gmail Posts: 22,157	Avoiding Taxes ... stop making so much damn money. In theory, should work. __________________ Free Premium Domain Lists and Tools at Clickmojo.com For Sale: Obscenity.com

06-26-2002, 05:02 AM	#27
akississweet Registered User Join Date: Jun 2002 Location: nyc Posts: 88	taxes? whos that?